Managing your business effectively means understanding the overall function of your general ledger and financial reporting. If you sell products, your profit margins are a key factor in determining ...

Debits and credits are used to monitor incoming and outgoing money in your business account. In a simple system, a debit is money going out of the account, whereas a credit is money coming in. However ...

Credit means different things depending on its context. For example, the amount available to borrow from a vendor. A credit in accounting is a journal entry with the ability to decrease an asset or ...